UPM to sell paper machine at Ettringen mill, Germany

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UPM/IHB
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UPM today announced that the company has signed a letter of intent with company Aviretta for the sale of the paper machine 4 at UPM Ettringen in Germany. 

Aviretta GmbH plans to purchase UPM’s PM 4 in Ettringen and to convert it into a board machine. The planned production capacity would be approximately 210,000 tonnes of board annually. The PM 4 would remain in Ettringen and it is planned that UPM Ettringen should render certain services to Aviretta. UPM would not be a shareholder in this company. 

In April 2013 UPM has announced the permanent closure of the paper machine 4 at Ettringen mill. The continuing challenges in European economy have significantly impacted the consumption of graphic papers. 

“We are pleased about the plans of Aviretta to convert paper machine 4 into a board machine. This setup would also lead to synergies for both contract parties. A thorough examination in the coming weeks will show, whether the planned project could be realized in this form“, says Winfried Schaur, General Manager of UPM Schongau & UPM Ettringen.

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